Revenues up 19% year-on-year at Jumia The Nigerian ecommerce group has posted a 19% uptick in year-on-year revenue in the first quarter, generating sales of $48.9m. However, quarterly active customers dipped by almost 5% after the business cut down on customer incentives. Read more.

Disney+ nears profit for the first time Disney's streaming arm, which launched in 2019 and also includes Hulu, is expected to swing to profit in the fourth quarter, thanks to a raft of cost-cutting measures and the popularity of hit shows like Bluey and The Bear. Read more.

Reddit targets profit for second quarter The online forums company has predicted that it will move into profit in its second quarter, thanks to strong user growth and an uptick in sales from its advertising business. Wall Street had forecast second-quarter losses. Read more.

Losses widen at fast fashion giant Boohoo The online fashion retailer has reported a widened pre-tax loss of £159.9m for the year to the end of February, up from £90.7m last year. Sales in the period dipped 17% to £1.46bn, thanks to inflation and weakened consumer demand. Read more.

China’s Zeekr targets $5.13bn valuation Electric vehicle maker Zeekr has said that it is eyeing a valuation of up to $5.13bn in it US IPO. The IPO will be the first major floatation of a China-based company in more than two years. Read more.

Wayve raises $1bn in Series C The autonomous driving startup has closed $1.05bn in Series C funding led by SoftBank Group. This is the UK's largest-ever AI fundraise. Read more.